Expert Appraisal Reviews by Saxton Appraisals, Inc.
According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers doing reviews are obligated to "have the ability and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Saxton Appraisals, Inc. provides appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact Saxton Appraisals, Inc. today.
As stated by the Federal Reserve, appraisal reviews "must verify whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is accomplished ensures independence and quality." They "should also demonstrate whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the scope of the appraisal assignment." The Federal Reserve also states that "some banks supplement typical reviews with post-funding assessments of appraisal quality for any of their higher-liability or greater-value dealings as a channel to help in addressing valuation problems."
In addition to adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Saxton Appraisals, Inc., we're trained in every kind of appraisal review, review process and the obligations of review appraisers.
Saxton Appraisals, Inc. is aware of what represents a quality appraisal and what the most prevalent inadequacies are, particularly in our housing market. In this regard, we are professional enough to know that the competitors in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to fairly examine appraisal reports performed by others. And those others might be reviewing our work, too!
In short, when you choose Saxton Appraisals, Inc., you can have confidence in our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Saxton Appraisals, Inc. for more information about our qualifications, expertise and service offerings.